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Sovereign Wealth Funds Briefing 24.Apr 2014

Posted on 24 April 2014 by VRS |  Email |Print

Norway’s $850 billion sovereign wealth fund needs to prepare its arguments to persuade lawmakers it can handle an expansion into private equity after an investment in Formula One backfired.
Yngve Slyngstad, the fund’s chief executive officer, and central bank Governor Oeystein Olsen, who oversees the fund, have been summoned to testify tomorrow at a Finance Committee hearing at the Oslo parliament………………………………………..Full Article: Source

Posted on 24 April 2014 by VRS |  Email |Print

Transurban, Australian Super and a unit of Abu Dhabi’s sovereign wealth Tawreed Investments are the new owners of Queensland Motorways after agreeing to pay $7.05 billion for the 70-kilometre network of roads in the Brisbane area, according to an email statement sent to Data Room.
The Transurban-led group beat out another bidding group led by Melbourne-based infrastructure investors Hastings, Spanish infrastructure operator and investor Abertis, the Kuwait Investment Authority and Dutch pension fund APG after the two groups were asked to submit their best and final offers for Queensland Motorways at 5 pm this afternoon, Data Room reporting has discovered………………………………………..Full Article: Source

Posted on 24 April 2014 by VRS |  Email |Print

Korea Investment Corp., the nation’s $72 billion sovereign wealth fund, plans to double alternative investments over the next 10 years to compensate for declining returns from stocks and bonds.
“We’ll have to embrace the lower return expectation from traditional assets and that will continue for a considerable period,” Choo Heung Sik, 56, the chief investment officer of the state fund, known as KIC, said in an interview in Seoul on April 21. “Considering such an environment, expanding into alternatives is one of the most efficient way to protect yield in the mid-to-longer term.”……………………………………….Full Article: Source

Posted on 24 April 2014 by VRS |  Email |Print

State-owned 1 Malaysia Development Bhd (1MDB), the second-largest independent power producer in the Southeast Asian country, has emerged as the frontrunner to acquire Lanco Infratech’s 1,200 mw coal-fired power plant at Udupi in Karnataka, underscoring the growing interest of global utilities in the battered Indian power sector.
The transaction, valued in excess of $1 billion, is poised to be the largest thermal power asset sale in the country and will help cash-strapped power and road developer Lanco pare debt, multiple sources with direct knowledge of the development said. Lanco’s debt, taken on to build power plants and roads and to purchase overseas coal mines, has swelled more than fourfold since March 2010. ……………………………………….Full Article: Source

Posted on 24 April 2014 by VRS |  Email |Print

Rod Ringrow, senior executive officer at State Street, says sovereign wealth funds are looking at long-term alternative investments.……………………………………….Full Article: Source

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